Sales of new U.S. single-family homes unexpectedly fell in July to a nine-month low in a sign the housing market was cooling and could give less support to the overall economy.
The Commerce Department said on Thursday new home sales decreased 1.7 percent to a seasonally adjusted annual rate of 627,000 units last month, the lowest level since October 2017. June’s sales pace was revised up to 638,000 units from the previously reported 631,000 units.
via Reuters
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Alfonso Esparza